Demand for premium models in the used car market is rising as dealers shift strategies on the back of falling consumer confidence, Aston Barclay has revealed.

Range Rover going under the hammer at Aston Barclay

Its latest desirability index is dominated by premium SUVs, 4x4s and saloons, which is having a knock-on effect of widening the gap between prices at the bottom and top end of the used car market.

Nineteen out of the top 20 places in the new index are taken up by premium brands, with just one volume brand and model, the Toyota CH-R, making its way onto this month’s list.

It’s further proof that dealers continue to bid on and buy higher value used cars at auction as and when they need them, in order to reduce their stocking costs and improve cashflow.

And Aston Barclay said it also shows how the bread and butter used car market has softened during the holiday season, based on a fall in consumer confidence.

The Audi Q7 topped the list, closely followed by the BMW 6 series and the Audi Q5, with a total of seven premium brands represented in the top 20.

The Tesla Model 3 was the only EV to make it onto the Aston Barclay list while the Toyota CH-R was the only hybrid as buyers continue to prefer petrol and diesel engines at the larger end of the used car market.

Mark Hankey, Aston Barclay’s chief revenue officer, commented: “This is the first time we have witnessed a major bias towards high end premium used cars across the entire index. The demand for used cars at the value end of the market has fallen, while demand for higher value premium used cars has risen. The gap between the bottom and the top of the used market increases with dealers prepared to bid for those high value used cars that remain in very short supply.”

Aston Barclay’s monthly index takes into consideration three key metrics: web views prior to sale, number of physical and online bids per sale, and the sale price achieved as a percentage of CAP average.